Irv Gotti was one one of hip hop’s biggest and most influential moguls. The Murder Inc. executive has since seen business cool off significantly. Despite that, Irv recently announced a huge deal that will have him set for life.
Gotti has reached a $300 million deal to sell his share of his masters to Iconoclast. The company will also fund various other projects for Irv. Gotti’s ownership stake in his masters is 50%, so he will be making a huge chunk of change.
WorldStarHipHop caught up with Irv Gotti at the BET Awards on Sunday night. There, they discussed Gotti’s massive deal. Irv became emotional when he discussed how it will change his life.
“I’m signing a deal worth $300 million. I’ma tell you what it is: $100 million of the deal is me selling my masters. What my billionaire n*gga was saying, he’s absolutely right. 20 years later, my masters, and I only own half, I own 50-50 with Universal Music Group. Half my masters is worth $100 million. That’s f*cking insane!”
Not only is the company buying my masters, but they’re giving me like a $200 million line of credit for me to not just produce and create, but now own my television [projects].”
Irv Gotti is currently working on a reality competition series for TV called “Double Threat” where he is searching for a rapper who can cross over into acting. He’s also working on a movie. Murder Inc. may have lost most of its popularity years ago, but Irv is happy for the chance to cash in.
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